Brompton Advantaged Tactical Yield Fund has filed a preliminary prospectus for a public offering of units at a price of $12 per unit, Brompton Funds Management Limited is pleased to announced Thursday.

The fund aims to provide investors with tax-efficient monthly distributions and the opportunity for capital appreciation through exposure to a portfolio that will be tactically invested in fixed income and dividend paying equity securities.

Distributions are initially targeted to be 72 cents per year per unit, paid monthly, consisting primarily of return of capital and representing a yield on the issue price of 6% per year.

MFC Global Investment Management (Canada) has been selected to manage the portfolio. MFC Global and its affiliates have investment offices in 16 countries worldwide, and manage assets of approximately $117 billion for external clients, including over $49 billion in fixed income securities.

The initial portfolio is expected to be comprised of approximately 70% high yield bonds, 20% dividend paying equities, and 10% investment grade bonds.

The syndicate of agents for the offering is being co-led by RBC Capital Markets and CIBC World Markets Inc. and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Mackie Research Capital Corporation, Raymond James Ltd., Dundee Securities Corporation, Canaccord Genuity Corp., Macquarie Private Wealth Inc., GMP Securities L.P., Desjardins Securities Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.

IE